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A Project Report on
“A Study Of In Store Customer Experience At Fastrack Store”
BY
PRABHU HIREMATH
1PI09MBA61
Submitted to
VISVESVARAYA TECHNOLOGICAL UNIVERSITY,
BELGAUM
In partial fulfillment of the requirements for the award of the degree of
MASTER OF BUSINESS ADMINISTRATION
Project work carried out at
TITAN INDUSTRIES LIMITED
Under the guidance of
INTERNAL GUIDE EXTERNAL GUIDE
Prof. K.R.Ravi Mr. Vipin Nair
Professor Retail Executive
PESIT MBA Titan Industries Limited
Department of MBA
PES INSTITUTE OF TECHNOLOGY,
BANGALORE-85
(2009-2011 Batch)
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DECLARATION
I, Prabhu Hiremath, student of MBA, PESIT, hereby declare that this project report
titled “A Study Of In Store Customer Experience At Fastrack Store” done at TITAN
INDUSTRIES Ltd, Bangalore is prepared in partial fulfillment of the requirement for the
award of the degree in MBA during my academic year 2009-2011 under guidance of Prof.
K.R.Ravi, Professor, MBA department, PESIT, Bangalore.
The information given is authenticated and true to my knowledge .and I also declare
that this project has not been submitted to any other university/institution for the award of
any degree.
Place: Bangalore Prabhu Hiremath
Date:
USN: 1PI09MBA61 (signature of candidate)
ACKNOWLEDGEMENT
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I owe a great many thanks to great many people who helped andsupported me during this project.
My respectful thanks to Dr. M.S.Ranga Raju, HOD, PES MBADepartment & Dr. KNB Murthy, Principal, PESIT, for extending
their support
I’m highly obliged to Prof K.R Ravi, Professor, PESIT MBA
Department, and the Guide of the project, for his constant
encouragement, valuable guidance & innovative ideas, without
which the project would not have been a professional work.
My deep sense of gratitude to Mr. Vipin Nair, Retail Executive,
TITAN INDUSTRIES LTD, Bangalore for sparing their valuable
time, knowledge & encouragement, including keen interest &
guiding me at every stage of the project, without whom this report
would not had reached this stage. My thanks and appreciation to
helpful people at TITAN INDUSTRIES LTD for their support
I also thank my institution and faculty members without whom
this project would have been a distant reality. I also extend my
heartfelt thanks to my family and well wishers
Last but not the least; I’m highly obliged to the Almighty
without whose inspiration it would have been really difficult in
completing the project.
PRABHU HIREMATH
USN: 1PI09MBA61
EXECUTIVE SUMMARY
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Since the past decade, Indian watch industry is witnessing a number of changes that caused a
revolution in the watch market. Right from mechanical watches to quartz watches, a time
keeping device to a style statement, public sector players to private sector players like Titan,
Timex, Maxima, from dark, dingy shops to branded/exclusive ambience filled showrooms,
from limited variants to unlimited choice of different watches.
The project is a study on,
“A Study of In Store Customer Experience at Fastrack Store”
The study was conducted with a sample size of 100 conveniently chosen respondents of
customers who visited the Fastrack exclusive store and the college going students. The aim
was to gain a better understanding of the general choice of preference of the customers while
buying Fastrack products and evaluate the awareness level of the Fastrack Exclusive store
Jayanagar among the respondents.
The interesting findings from the survey are the existing customers of Fastrack are satisfied
with the brand quality, price, service, stock availability and staff behavior. The samples
collected from the youth results that the awareness level of Fastrack has a brand is high but
42% of respondents are not aware of Fastrack exclusive showroom in Jayanagar. 29% of the
respondent who are aware of Fastrack exclusive showroom but they are not aware of Fastrack
exclusive showroom in Jayanagar. The respondents are not visiting the exclusive store due to
no discounts and offers and the store is not easily accessible.
The project brought into light the different facets of consumers today, and
helped us gain an understanding of their attitudes and behaviour that varied
from one group to another. The information gathered from the data will help us
in designing marketing strategies, such as various internal and external
promotions and media campaigns.
CONTENTS Feb-July 2011 4
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PART A
CHAPTER NO NAME OF THE CHAPTER PAGE NO.
Chapter 01 INDUSTRY PROFILE 1-4
1.1 History of the watch market 2
1.2 Size of the Indian watch market 2-3
1.3 Market Segmentation 3
1.4 Market Strategy 4
Chapter 02 COMPANY PROFILE 5-23
2.1 Background 5-9
2.2 Nature of business 10-12
2.3 Vision and mission statement 12
2.4 Products & services profile 13-17
2.5 Area of operation 17
2.6 Ownership pattern 18
2.7 Competitors information 19
2.8 Infrastructural facilities 20
2.9 Achievements & awards 21
2.10 Work flow model 22
2.11 Future Growth 22-23
Chapter 03 MCKENSEY’S 7S FRAMEWORK 24-29
Chapter 04 SWOT ANALYSIS 30-31
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Chapter 05 Analysis of Financial Statement 32-34
Chapter 06 LEARNING EXPERIENCE 35-37
PART B
CHAPTER NO NAME OF THE CHAPTER PAGE NO.
Chapter 01 INTRODUCTION TO FASTRACK 38-45
1.1 Background of Fastrack 391.2 Re launch of the brand 39-401.3 STP Analysis 40-421.4 Marketing mix 43-44
Chapter 02 INTRODUCTION TO THE STUDY 45-48
2.1 Title of the Study 46
2.2 Objective of the study 462.3 Scope of the study 46
2.4 METHODOLOGY 47
2.4.1 Sampling plan 472.4.2 Plan of analysis 472.5 Limitation of the study 48
Chapter 03 ANALYSIS AND EVALUATION OFDATA
49-77
3.1 Introduction to the Study 503.2 Demographic Data 51-77
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3.3 Study Data 51-77
Chapter 05 RECOMMENDATIONS ANDCONCLUSIONS
78-79
LIST OF TABLES
TABLE NO TOPIC PAGE NO
1. Shopping Destination 512. Watch purchase period 523. Brand preference 534. Brand perception 555. Ad recall 566. Ad likeliness 577. Ad uniqueness 588 Dislike in ad 589 Visit to store 59
10 Store awareness 6011 Jayanagar store awareness 6112 Like to visit store 6213 Need gap 6314 Reasons 6415 Purchase decision 6516 Stock Availability 6617 Ambience 6718 Staff behavior 6819 Product Quality 6920 Offers 7021 Price 7122 Store location 7223 After sales service 73
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24 Overall satisfaction 7425 Likely to visit again 7526 Recommendation 76
LIST OF GRAPHS
GRAPH NO TOPIC PAGE NO
1. Shopping Destination 512. Watch purchase period 523. Brand preference 544. Brand perception 55
5. Ad recall 566. Ad likeliness 577 Visit to store 598 Store awareness 609 Jayanagar store awareness 6110 Like to visit store 6211 Need gap 6312 Reasons 6413 Purchase decision 6514 Stock Availability 6615 Ambience 68
16 Staff behavior 6917 Product Quality 7018 Offers 7119 Price 7220 Store location 7321 After sales service 7422 Overall satisfaction 7523 Likely to visit again 7624 Recommendation 77
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CHAPTER 1
INDUSTRY PROFILE
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1.1 History of the Indian Watch Market
Wrist Watches form an integral part of the personality of individuals in the present
era. Earlier seen as a luxury item, they are now witnessing a fundamental change in
perception, and are now gaining respect as an essential utility item. For the watch industry,
time seems in its favour what with the liberalization of the Indian market coupled with the
rising purchasing power of the young and consumerist Indians.
Indian watches market was for long dominated by public sector organisations like Hindustan
Machine Tools Ltd. (HMT) and Allwyn (also famous for its refrigerators once upon a time!),
and has now left the pioneers far behind or nowhere in market by private sector enterprises
like Titan, Sonata, Ajanta and Timex along with foreign entities jostling for display space in
the smallest of shops selling these products.
Before the establishment of HMT as the dominant player in the Indian markets initially, the
country was solely dependent on imports to meet the internal demand. However,
establishment of HMT as the leading player in the wrist watch segment in the 1960’s,
changed the scenario
In post liberalization India, the market stood to witness intensive competition between
foreign and Indian manufacturers like Timex, Titan, Movado, Longines, Rado, Rolex,
Fréderique Constant, Mont Blanc, Swatch, and many others. Many watch makers have made
significant inroads in the industry and others are in the process of establishing themselves,
currently.
Besides this, buyers are extremely choosy about the brand and type of wrist watches they
wear. Being extremely brand conscious, their tastes have evolved over the years and have
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gone beyond the realms of durability to choose in terms of aesthetics and elegance. Thus it is
a buyers’ market with multitude of designs that have entered and flooded the market place
1.2 Size of Indian watch market
The size of the watch market currently is estimated to be around 40 to 45 million pieces
annually. The organized sector alone contributes up to 30 percent of this figure, and the rest
of the demand is being met by the unorganised grey sector. This data is significant indeed in
view of the socio economic distribution of the Indian populace. More than 58 percent of the
population is under twenty five and more than 80 percent of the population is below 45 years
of age.
In dollar terms, the estimated annual market size is around USD 195 million, despite the fact
that the penetration of watches is the lowest, compared globally. Looking into this fact and
the long standing Indian tradition of comparing watches with jewellery and other traditional
items, many watch companies are interested in setting up base in India. The average growth
in the size of the market is slated to be around 10 -15 percent per year.
1.3 Market Segmentation
A casual study of the watch market reveals that it is segmented on basis of multiple
proportions such as price, benefits and types of watches. The price of the watches is a major
motive in the minds of the customer. Accordingly, three segments can be identified here,
namely low priced, medium priced, and high priced watches.
The lower priced segment consists of watches priced less than INR 500; the medium price
range consists of watches in the INR 500-1500 range and the high priced watches come in the
INR 1500 upwards range. There are other higher categories as well such as the premium and
luxury range, but they appeal to only a small category of the watch market in India.
According to a recent study, more than 90 percent of the watches were from the lower price
ranges with international costs being less than 20 euros. Moreover, around 20 to 25 watches
are being sold for every 1000 citizens. Thus there is enormous potential for growth of the
industry in this untapped segment. Some customers look out for features like fashion appeal,
technology, sophistication and status. Others go for durability, economy and precision.
Many customers prefer mechanical and automatic watches, while others prefer quartzwatches. Newer segments are also on rise such as ladies watches, children’s watches and
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gent’s watches. Customers usually base their preferences and buying decisions on a variety of
factors like price, durability, utility, aesthetic appeal and brand name. A combination of all
these points ultimately forms the customer’s buying decision that translates into the purchaseof a watch.
1.4 Marketing Strategy
The retail sector has just begun to boom in India. Since the early 1990’s, Indian customers are
relying more on departmental stores and shopping malls to purchase their wants and needs.
This has come as a boon for watch manufacturers and dealers, who are now looking forward
to utilize these new outlets to reach out to the Indian masses. Watch manufacturers are
looking at a suitable mix to market their products ranging from exclusive retail outlets to
display sections in malls and large departmental stores.
In the end, though India is still considered to be a difficult market to penetrate, due to reasons
like price sensitiveness and its largely unorganized sector. However, with the right planning
and the right partners and experienced collaborators, it is expected that both international and
domestic watch manufacturers will do well in the Indian markets.
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CHAPTER 2
COMPANY PROFILE
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2.1 BACKGROUND
The TITAN Story
Early 2001, when Indian consumers rated Titan ahead of all other brands as the Most
Admired Brand in India across all product categories (the first ever such survey done by
Brand Equity), it did not surprise people that a 13 year-old had managed to upstage many
older and more well-known brands: it was expected of Titan to achieve such things, it was so
natural.
It was also a fitting tribute to a brand, which had not only revolutionised the Indian watch
industry, but also brought in world-class benchmarks in product design, quality and retailinginto India.
Back in the early eighties, the Tata Group had identified the watch category as a potential
consumer market for the Tatas to enter. Xerxes Desai, a Tata veteran and the then MD of
Tata Press, was chosen to lead that venture.
In those days of pre-liberalization the watch market, like most consumer markets in India,
was way behind the rest of the world. The technology in vogue was the reliable, but outdated
"Mechanical" technology, which used the unwinding of a mechanical spring to tell time. Notonly was the accuracy of time-keeping not good enough, but the bulky mechanical movement
did not permit the creation of sleek products. The industry was dominated by the public
sector which had brought in watch manufacturing into India, enjoyed tremendous goodwill in
the market, but had not really invested in evolving itself and its consumers: styling still
remained basic, choice was limited.
The watch shops were narrow, dingy and typically located in the older, traditional markets of
the city. You went there only to buy a watch, never to browse, never to simply check out.
Visual merchandising was very much at the stage of "decoration" if any, and neither the
brands nor the retailers saw it as important. The companies themselves did not have much
contact with retailers, preferring to sell through wholesalers, doing well that way. There was
hardly any need for consumer contact or research. It was a sellers' market.
All this affected the consumers. Watches remained a time-keeping device, so one watch was
enough, thank you. Since the quality of the watch was quite good, it lasted quite a while and
the consumers did not change it for 10, 15, 20 years. And when they did change it, they did
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not pay a high price for the new piece because, what the hell, they were buying another time-
keeping device.
Xerxes Desai's vision was to dramatically alter this perception of consumers, and make Titan
a fashion accessory. He knew that that was the only way that this new brand would explode
the market and wrest control from the dominant HMT. So he and his team went about
breaking all the rules in the category:
Mechanical technology was the norm - Quartz had not really taken off in India. Titan would
go against that and build its line based on quartz. Accuracy would become a selling-plank.
Styling was basic - This was a constraint imposed by the technology as well the outlook of
the manufacturers. Titan decided to make style a table-stake.Choice was limited - You had 200 models to pick from, that was it. Titan decided to inundate
consumers with a wide choice in style, functions and price. The initial range was 350 models.
Shops were dark, dingy and uninteresting - There was no importance given to presentation,
and therefore no attempt made at it. Titan brought in the concept of retailing into the watch
market, established a network of fine showrooms which would later become the world's
largest network of exclusive watch stores. These stores not only helped Titan to gain
leadership substantially, but also irrevocably altered the retail landscape of the watch market
through a demonstration effect on the traditional dealers.
Advertising was expenditure - Titan saw this as a vital investment. Right from Day 1, Titan
invested significantly in advertising and in that process created a set of memorable and
effective properties over the years.
Titan’s First Milestone
Titan commenced production end 1986 and hit the market in March 1987 with its brand
‘Titan’. The analogue electronic Quartz range met instant acclaim, appeasing a hungry watch-
starved consumer market. This spurred encouragement and manufacture extended to
bracelets, cases, electronic circuitry and step motors.
Along The Way
Spanning 25-years of growth, the Titan Watch Project became Titan Watch Division and
ultimately Titan Industries. Production kept an impressive pace, topping the 10 million plus
mark per year. Three years down the trail produced a dividend of 15% – today, 2009, sees adeclaration of 100%. Feb-July 2011 15
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Audaciously challenging the Swiss, Titan now is the world's largest integrated manufacturer
of watches. A major brand player, Titan stakes claim to 60% of the organized watch market,
with over 100 million pieces sold across 30 countries collectively.
Ventures
Diversification accelerates progress. Titan’s expansion plans in 1993 turned to jewellery,
with a brand launch ‘Tanishq’ in 1996. Then a spate of new ventures followed suit, Fastrack
– the youth watch and accessories line in 2003; Precision Engineering in 2005, Goldplus the
standardized mass marketing of jewellery in 2006 and the Titan Eyewear Division in 2007 - a
project of prescription eyewear, complete with specialized outlets, catering to customers’every need.
Foreign Exchange being no consequence subsequently caused Titan to focus exclusively on
the home market. Today, Tanishq - the first branded jewellery player and Goldplus, are
righteous equivalents of the Cartier, Tiffany, Esprit, and Ernest Jones of the West in
credibility, standards and fame.
Growth of Titan
Titan is the sheer scale of its offering and the consequent choice it offers to multiple
segments across taste, age and economic background. Titan saw this approach as the
foundation of its leadership strategy in the early days.
Even the early range had distinct offerings for different requirements:
• Formal watches (gold plated cases with fine leather straps) for the executive,
• Dress watches (gold plated cases with ornamental gold plated bracelets) for those
with a preference for jewellery,
• Rugged watches (all steel watches with a skew to functionality) for those whose
usage demanded certain durability.
Titan has built on this principle over the last 15 years, almost year after year:
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In 1989, it was Aqura, the trendy range for the youth, colourful, smart and affordable plastic
watches for the youth: The other side of Titan for the other side of you.
In 1992, it was Raga, the ethnic range, with striking symbolism from ethnic India, for the
sophisticated India woman who appreciated such things.
In 1993, it was Insignia, very distinctive and international-looking top-end watches, for those
seeking exclusivity and status.
In 1994, it was psi 2000, rugged, sporty and very masculine watches with serious sports
features (200-m mater resistance, high precision chronographs) for those with the penchant
for adventure.
In 1996, it was Dash, the cute and colourful range for kids.
In 1997, it was Sonata, the affordable, good quality range for the budget-conscious.
In 1998, it was Fastrack, the cool, trendy, funky range for the young and young-at-heart.
In 1999, it was Nebula, the sold gold and diamond-studded range of luxury watches for those
affluent people to whom gold is a precious acquisition.
In 2001, it was Steel, the smart and contemporary collection for the young 21st century
executive.
And in 2008, the brand has collections like the Octane, Diva, WWF and Zoop - each of them
unique and fascinating.
2.2 TITAN’S NATURE OF BUSINESS
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Titan started its business with the manufacture of Watches, and then diversified into
Jewellery and Eyewear. They also provide Precision Engineering services to the top notch
countries around the world.
2.2.1 TIME DIVISION
The Time Products division is where the Titan story began. Today, this division has placed
Titan Industries among the world’s largest retail networks and earned the company the place
of fifth largest integrated watch manufacturer in the world With over 624 retail stores across
a carpet area of over 7,70,848 sq. ft. Titan Industries has India’s largest retail network. The
company has over 300 exclusive ‘World of Titan' showrooms and over 650 after-sales-service centre
2.2.2 JEWELLERY DIVISION
Tanishq, Titan’s flagship line of jewellery is today a resounding success with discerning
customers. Tanishq has performed exceedingly well and has set standards, in what could best
be described as a largely unorganised and unscrupulous jewellery market.
The growth of the brand has once again been a testament to our customer focus. Tanishq is
today a hallmark of trust, an island of purity. It is a certified division under the ISO
9001:2000 Quality Management System Standards. Established to addresses the urban
market, its growth has transformed Titan into the largest integrated jewellery manufacturer
and outsourcing company of India. Titan Industries is also the largest jewellery retailer in
India with over 119 Tanishq boutiques and Zoya stores , over 28 Gold Plus stores.
2.2.3 PRECISION ENGINEERING DIVISION
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Precision Engineering Division is ISO 9001:2000 and ISO 14001:2004 certified. Additionally
the unit catering to Aerospace segment is AS 9100B certified and the unit catering to
automotive segment is TS 16949 certified.Depicting a significant and progressive growth drive, listed below are some of the Division’s
top customers
2.2.4 EYEWEAR DIVISION
Titan Eye+, the third major venture of consumer business by Titan Industries, launched into
the eyewear segment in March 2007. This initiative was to re-define eyewear and fortify the
industry with quality standards, unparalleled in the history of India’s eye-care industry.Titan
Eye+ heralded standardisation by benchmarking with the world’s best, in sync with the
TATA principles of quality and trust.
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2.3 Titan’s Mission and Vision
2.3.1 Mission:
To create wealth for all our stakeholders by building highly successful businesses based on a
customer-centric approach, and to contribute to the community.
2.3.2 Company Vision:
To be a world-class, innovative and progressive organization and to build India’s most
desirable brands.
2.4 PRODUCTS AND SERVICES OF TITAN
Titan’s products range in the category of Watches, Jewellery and Eyewear and their services
include Precision Engineering.
2.4.1 WATCH DIVISION
Different Brands under the Watch segment are:
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Titan is one of India's leading watch brands that brought about a paradigm shift in the Indian
watch market, offering quartz technology with international styling. The Titan portfolio ownsover 60% of the domestic market share in the organised watch market.
The Titan brand architecture comprises several collections and sub-brands, each of which is a
leader in own space. Notable among them are: Titan Edge - world's slimmest watch based on
the philosophy ‘less is more’, Titan Raga - feminine and sensuous accessory for today's
woman, Nebula - crafted with solid 18k gold and precious stones. Several other popular
collections like Heritage, Aviator, Regalia, also form a part of the Titan portfolio.
Sonata, India's largest selling watch brand, offers stylish looks at affordable prices. The
thoughtfully crafted designs encompass the aspirations of young India. The boldness and
uniqueness of each design reflects the confidence of the wearer.
The brand offers a variety of looks, to suit every occasion and every wallet:
Dressy Sona Sitara watches for special occasions
Bold Yuva watches crafted in steel for today’s confident youth
Contemporary Office Wear watches with formal appearance and leather strap
Stylish and Strong Super Fibre watches.
Fastrack was launched in 1998 as a sub-brand of Titan. It was spun off as an independent
brand of watches targeting the urban youth in 2005. Since then, it has carved a niche for itself
with designs that were refreshingly different and affordable. During that time, Fastrack also
extended its footprint into eye gear and in the last 4 years has quickly notched up the title of
being the largest sunglass brand in the country.
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Fastrack has now chartered into newer categories – bags, belts, wallets and wrist bands – as
part of its vision to become a complete fashion brand for the youth. With enough categoriesto fill up one cool store.
Xylys, is an exclusive brand of Swiss Made watches brought to you by Titan. An eloquent
interpretation of Swiss watch making with the trappings of exquisite craftsmanship and
impeccable detailing, all Xylys watches are created with a fine sense of design and painstakingly made from carefully selected materials.
.
Tommy Hilfiger Watches
Tommy Hilfiger, one of the best-known American fashion brands, has its roots in Elmore, New York. The brand is recognized world over for watches, jeans, fragrance.
Titan Industries Limited has made Tommy Hilfiger Watches available in India at most
‘World of Titan’ stores, leading multi-brand watch outlets, and department stores like
Shoppers Stop, Central and Lifestyle.
Hugo Boss Watches
Hugo Boss, one of the world’s most popular European brands, has its roots in Germany.
Hugo Boss is known for shoes, accessories, and fragrances. Watches complement and
complete the portfolio. Hugo Boss watches were launched globally early this year. The Hugo
Boss watch designs connote European elegance and couture and are a symbol of power and
sophistication.
Hugo Boss watches are now available in India, thanks to Titan Industries Limited.
3.4.2 JEWELLERY DIVISION
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Tanishq, India's largest, most trusted and fastest growing jewellery brand, offers traditional as
well as trendy designs in gold, diamond and platinum. Stringent quality standards ensure that
every product at Tanishq is crafted to perfection with unmatched finish. With innovations like
the karat meter - the only non-destructive means to check the purity of gold .Tanishq
introduced specialised retailing in the fragmented jewellery market of India. Today, with 115
opulent stores in 75 Indian cities, Tanishq continues to rule the jewellery space.
Titan Industries’ Goldplus is designed for the jewellery preferences of the semi-urban and
rural Indian customer the brand also offers impressive designs embellished with diamonds,American diamonds (Cubic Zirconia) and other precious stones. The Goldplus jewellery
comes with the assurance of purest 22-karat (916) and 18-karat (750) gold and premium
craftsmanship. With a presence in 30 towns spread across 6 states, Goldplus is the largest
jewellery retail chain in Tamil Nadu.In addition to gold jewellery,. Every Goldplus product is
endorsed by a certificate that states the purity of the gold and the quality of diamonds used in
the article.
2.4.3 EYEWEAR DIVISION
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Products
The range of products that Titan Eye + offers include eye-glass frames, lenses, contact lenses,
sunglasses that follow the international designs and style trends.
Services
• Zero-error eye testing in state-of-the-art optometry clinics
• Style consultancy to select the right frames
• Browse, Select & Buy format
INTERNATIONAL BRANDS
Titan Eye+ stocks a selection of fashion and prescription frames as well as sunglasses from
internationally renowned apparel brands such as Esprit, Tommy Hilfiger, Hugo Boss,
Versace and Armani.The Titan Eye + stores also offer high-end lifestyle brands such as Mont
Blanc, Swarovski and Bulgari all of which cater to the premium segment of Titan’s clientele.
2.4.4 PRECISION ENGINEERING DIVISION
Leveraging precision engineering core competencies from watch making, Titan initiated a
PRECISION ENGINEERING DIVISION in 2002, catering to global majors across industry
verticals like aerospace, automotive, oil & gas, engineering, hydraulics, solar and medical
instruments.
With an investment of over $10 million, this setup has four main business units:
• Precision Engineering Components & Sub-Assemblies (PECSA)
• Machine Building & Automation Solutions
• Tooling Solutions
• Electronic sub-assemblies
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2.5 AREA OF OPERATION
Titan is available across India in “WORLD OF TITAN EXCLUSIVE SHOWROOMS”,Multi Brand outlets and dealers. Titan’s also touched the International foray.
Titan notably left its’ footprint in Europe in 1993; then came a major one in the Middle East
and the Asia-Pacific regions. Titan now happily ticks its way across twenty-six countries
around the globe. Internationally, Titan’s business amounts to over 675k watches annually
Titan today sells in
• UK
• Spain
• Portugal
• Greece
• Singapore
• Dubai
• Malaysia
• Oman
• Philippines
2.6 OWNERSHIP PATTERN
Titan Industries Limited was promoted by the Tamilnadu Industrial Development
Corporation Limited (TIDCO) and the Tata Group. As on March 31, 2010 Share holding
pattern is shown below
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Particular No. Of Shares Percent Shares (%)
Promoter Holding 23687548 53.36
Foreign Promoters 0 0
Non-Promoter holdings (Other than Public)
Financial Institutions/Banks 166683
FII/Foreign Fin Inst/Foreign
Banks
4971393 11.2
Corporate Bodies 1764250 3.97
OCB 450 0
NRI 0 0
Mutual Funds 3545155 7.99
Other Foreign Holdings 0 0
General Public
Individual Holding Upto Rs. 1
lakh
5359230 12.07
Individual Holding Excess of
Rs. 1 lakh
4879399 10.99
Others 15200 0.03
Total 44389308 100
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2.7 COMPETITORS INFORMATION
Throughout the voyage of Titan, competitors have always been a part and parcel. HMT, at
one point of time as a competitor were overtaken by Titan when Quartz watches were
introduced. In the current scenario, Titan faces stiff competition from the Foreign company
brands.
2.8 INFRASTRUCTURAL FACILITIES
With over 624 retail stores across a carpet area of over 7,70,848 sq. ft. Titan Industries has
India’s largest retail network. The company has over 300 exclusive ‘World of Titan'
showrooms and over 650 after-sales-service centers. Titan Industries is also the largest
jewellery retailer in India with over 119 Tanishq boutiques and Zoya stores, over 28 Gold
Plus stores and over 120 Titan Eye+ stores. The company has two exclusive design studios
for watches and jewellery
Backed by 4,934 employees, two exclusive design studios for watches and jewellery, 11
manufacturing units, and innumerable admirers’ world over, Titan Industries continues to
grow and sets new standards for innovation and quality. The organization is all geared to
repeat the Titan and Tanishq success story with each new offering.
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2.9 ACHEIVEMENTS AND AWARDS
Over the years, Titan Industries has received several prestigious awards and distinctions.
Some of the recent and most noteworthy recognitions are:
• Titan Industries received the Award for the Most Admired Timewear Brand of the
Year in 2009 for the ninth successive year for Titan, and the Most Admired
Jewellery Brand of the Year for the seventh consecutive year for Tanishq.
•
Goldplus bags 2 dragons and 2 certificates of merits at the Promotion marketingawards of Asia 2009.
• Jewellery Division was declared the winner of the “GOLD AWARD" in FMCG
sector in the GreenTech Environment Excellence Award 2009.
• Jewellery Division wins first prize in “Innovation in Supply Chain Management”
organized by Indian Institute of Material Management for the second consecutive year
and ranked amongst the top five amongst 50 global entries at Europen Business
School, Weisbaden Germany .
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• Titan brand won the “Most Valuable Brand in the State” award at the IIPM & The
Sunday Times STATE EXCELLENCE AWARD.
• Both Titan and Sonata feature in the Top 100 Brands-2009 in the Annual Survey
conducted by Economic Times. While Titan is ranked at Number 4, Sonata increase
their rank to 86. Titan is ranked number 1 in the consumer durables category.
• Jewellery Division of Titan Industries Limited won the Eight Annual Madras
Management Association award on Managerial Excellence for Manufacturing sector.
• Titan Industries bagged 19th position across all industry categories and 1st position in
the Retail Industry category in the Economic Times – Great Place to Work Institute
study. The survey results show that 92% employees across Titan Industries feel that
Titan is a Great Place to work!
Titan Industries was one of the five organizations to be awarded the "Corporate Social
Responsibilities" award - Best Commercial and Industrial Institute for 2009 - 10 by the
Government of Tamil Nadu.
2.10 WORK FLOW MODEL
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2.11 FUTURE GROWTH & PROSPECTS
Titan’s future lies in the innovation and introduction of new watches time and again to be on
par with the trend and to maintain the competitive advantage that they possess and remain the
market leader.
Titan’s recent collection, TITAN RAGA AQUA, TITAN AUTOMATIC, TITAN PURPLE
Elita Nymph Pearl
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RAGA AQUA
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Valence
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TITAN PURPLE
TITAN AUTOMATIC
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CHAPTER 3
MCKINSEYS 7S FRAMEWORK WITH
SPECIAL REFERENCE TO TITAN
INDUSTRIES LTD
3.1 INTRODUCTION TO MCKENSY’S 7S FRAMEWORK
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The McKinsey 7S model was named after a consulting company, McKinsey and Company,
which conducted applied research in business and industry (Pascale & Athos, 1981; Peters &
Waterman, 1982).
Looking at each element specifically:
• Strategy: the plan devised to maintain and build competitive advantage over the
competition.
• Structure: the way the organization is structured and who reports to whom.
• Systems: the daily activities and procedures that staff members engage in to get the
job done.
• Shared Values: called "super ordinate goals" when the model was first developed,
these are the core values of the company that are evidenced in the corporate culture
and the general work ethic.
• Style: the style of leadership adopted.
• Staff: the employees and their general capabilities.
• Skills: the actual skills and competencies of the employees working for the company.
3.1.1. Structure
Business needs to be organized in a specific form of shape that is generally referred to
as organizational structure. The structure of the company often dictates the way it operates
and performs. Titan Industries ltd basically comprises of Marketing, Finance, Human
Resource, Design, Purchase, Stores. The functional heads of various Brand Divisions is
shown in the Table below. The organization structure at Titan Industries is “Hierarchical”
in nature. The heads of different Brand divisions governs all the directors. The decision
making process is a combination of centralized as well as decentralized, where in the
employees are allowed to take decision under their premises and consult their head for major
decision respectively.
Table 1: Showing the Brand Divisional Heads
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Name Designation
Bhaskar Bhat Managing Director
Harish Bhat COO – Time Product Division
C.K. Venkataraman COO – Jewellery Division
Ravi Kant COO – Eyewear Division & Sr V.P
Corporate Communications
Kailasanathan N COO – Precision Engineering Division
H.G Raghunath Chief Manufacturing Officer, Watches
S. Ramadoss Chief Human Resource Officer
Subbu Subramaniam Chief Financial Officer
C. Srinivasan Vice President- Sonata, Institutional Sales
Ronnie Talati Vice president – Fastrack & New Brands
L.R. Natarajan Chief Manufacturing Officer, Jewellery
V. Govindraju Vice President – Integrated Retail Service
Sandeep Kulhalli Vice President – Retail & marketing, Tanishq
Ajoy Chawla Vice President & Global Business Head
Ramesh.C.S Head – I.T Division
A.R. Rajaram Head – Legal & Company Secretary
3.1.2 Strategy
Strategy is the plan of action an organization prepares in response to, or anticipation
of changes in its external environment. It deals with essentially three questions
➢ Where is the organization standing at this moment of time?
➢ Where the organization wants to be in a particular length of time?
➢ How to get there?
Pricing Strategy
Out of various strategies adopted by the company since from its inception, pricing strategy,
marketing strategy and positioning of each of their brands has placed the Titan brand at the
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top slot with respect to its core competitors, compared to its major competitors (Foreign
Brands)
3.1.3 Systems
Every organization has some systems or internal processes to support and implement
the strategy and run day-to-day affairs. For example, a company may follow a particular
process for distribution, order execution etc. These processes are strictly followed and are
designed to achieve maximum effectiveness.
Titan Industries system of distribution is as follows.
Chart showing the Distribution pattern of Titan:
3.1.4 Skills
Skills refer to the facts that the employees have the necessary skills to carry the
company’s Strategy. Training and development ensures employees to do their jobs well and
stay up to date with latest techniques.
3.1.5 Style
All organizations have their own distinct culture and management style. It includes
the dominant values, beliefs and norms which develop over time and become relatively
enduring features of the organizational life. It also entails the way managers interact with the
employees and the way they spend their time
Top down and Bottom up.
Titan Industries Ltd adopts both the styles i.e. Top down and Bottom up accordingly as
required. While taking suggestions from employees, they follow the Bottom up style. And for
any management decision to be implemented, they follow Top down style. The particular
departmental heads collects the needed information to take part to solve problem and submits
to the top management, and accordingly the work or decision are being taken.
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Authoritarian/Participative
In this style of management the superiors will participate while solving any problem
in the company. Titan believes in Participative style. Here the superiors take theresponsibility for the completion of work within time and provide workably environment to
the workers.
The objective behind Participative style is
➢ For achieving the company’s objective.
➢ To keep co-ordination among the staff at various levels.
➢ To maintain discipline.
➢ To suggest improved and new ideas.
3.1.6 Staff
Staffs represent the employees who are recruited, deployed and developed. Titan Industries
ltd has hired able people, trained them well and assigned them the right jobs. Selection,
training, motivation and assignment to appropriate work are done by the HR personnel at
various divisions when necessity arises.
3.1.7 Shared Values:
Every organization has a set of core values and standards which the employees are meant to
follow to fulfil the Mission and achieve the Vision of the Company. Titan’s values and
standards are:
Total customer orientation
- Customers take precedence over all else, always.
Employee appreciation
- We value and respect Titanians and Endeavour to fulfill their needs and
aspirations.
Performance culture and teamwork
- At Titan Industries, high performance is but a way of life and is nurtured by
teamwork.
Creativity and Innovation
- Driven by innovation and creativity, we focus on smarter approaches and newer technologies.
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Passion for excellence
- In all our pursuits, we ceaselessly strive for excellence.
Corporate Citizenship- We ensure that a part of our resources is invested in environment and community
betterment.
CHAPTER 5
SWOT ANALYSIS OF TITAN
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5.1 SWOT ANALYSIS OF TITAN
SWOT Analysis is a powerful technique for understanding the Strengths and Weaknesses,
and for looking at the Opportunities and threats that the company face. Used in a business
context, it helps to carve a sustainable niche in the market.
SWOT ANALYSIS MATRIX OF TITAN
Chapter 5
Analysis Of Financial Statement
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5.1 Ratio Analysis
2006 2007 2008 2009 2010
Current Ratio
current ratio 1.67:1 1.38:1 1.40:1 1.40:1 1.39:1
Current Asset 653.76 999.33 1,280.
79
1,492.
42
1,821.
65
Current Liability 390.61 723.22 916.58 1,067.
44
1,307.
02
ratio 1.67368
99
1.3817
79
1.3973
58
1.3981
3
1.3937
43
Liquid Ratio/ Quick
ratio
liquid ratio 0.76:1 0.56:1 0.31:1 0.29:1 0.41:1
Current Asset 653.76 999.33 1,280.
79
1,492.
42
1,821.
65
LESS -
Investment
374.39 677.48 1,021.
09
1,202.
69
1,340.
33
liquid ASSET 279.37 321.85 259.7 289.73 481.32
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liquid liability 363.89 571.26 842.68 974.00 1,172.
28
ratio 0.76773
2
0.5634
04
0.3081
83
0.2974
64
0.4105
85
DEBT.TO EQUITY RATIO
DEBT.TO EQUITY
RATIO
1.15 0.75 0.59 0.32 0.10
Total Debt 267.93 247.01 257.89 175.41 72.79
Networth 232.58 327.45 436.17 551.24 724.38
RETURN ON
EQUITY
RETURN ON
EQUITY
31.65% 28.81
%
34.45
%
28.84
%
34.56
%
Reported Net
Profit
73.62 94.33 150.27 158.96 250.32
Networth 232.58 327.45 436.17 551.24 724.38
PROPRIETORY RATIO
PROPRIETORY
RATIO
0.46 0.57 0.63 0.76 0.91
Networth 232.58 327.45 436.17 551.24 724.38
Total Assets 500.49 574.45 694.05 726.64 797.18
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Interpretation:
Current Ratio:
It represents the short term financial position and policy it is an indicator of firmsability to meet its short term liabilities. A relatively low ratio (< 2:1) indicatesfirm will find difficulty in meeting its liability. As the current ratio in the year2005-06 is 1.67and has reduced to 1.40 in 2008-09 and reduced to 1.39 in 2009-10. This shows that its ability to meet short liabilities is reducing from 2006 to2010.
Liquid ratio:
It is similar to current ratio but it does not consider inventory, so it shows more liquidity. As
the liquid ratio is 0.76 in the year 2005-06 and reduced to 0.29 in 2008-09 and then increased
to 0.41in 2009-10. This shows that they are unable to meet short term liabilities in 2009-10
compared to 2005-06.
DEBT.TO EQUITY RATIO
This ratio measures the relationship between long term debt and shareholders
fund, as the debt to equity ratio is 1.15 in the year 2005-06 and has reduced to
0.32 in 2008-09 and again reduced to 0.10 in 2009-10. This shows that from
2006 to 2010 there is a higher claim of owners on the asset of the company than
the creditors.
RETURN ON EQUITY:
As the ROE in the year 2005-06 is 31.65% and has reduced to 28.84% in 2008-09
and again is increased to 34.56% in 2009-10, this shows that the return on the
owners fund employed by the company is increasing from 2005-06 to 2009-10. That means the share holders money has been used efficiently by the company.
PROPRIETORY RATIO
As the Proprietary ratio in the year 2005-06 is 0.46 and has increased to 0.76 in
2008-09 and is increased to 0.91 in 2009-10. This shows that the there is
increase in the number of shareholders from 2005-06 to 2009-10 and increase in
the financial strength of the company.
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CHAPTER 6
LEARNING EXPERIENCE
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6.1 LEARNING EXPERIENCE
The experience from TITAN INDUSTRIES LTD. helped me gain knowledge and insights
into how a company functions and helped me understand the practical aspect of what I
studied in the class room. It gave me practical knowledge and understanding with regards to
the functioning of the organization, right from its culture, values and beliefs, strategies and
organizational structures. I heartily thank TITAN for giving me the opportunity to do my
project work.
The company firstly exposed me to the brands they deal in. I was under the Fastrack division
and working on the Fastrack exclusive store. The company gave me general inputs of the
product such as their launch, target market, marketing strategies used. They expected me to
bridge the gap with this project of what was done and what could be done in future to
improve more walk ins into the Fastrack exclusive stores. This approach helped me
understand the value of scanning thoroughly about the product under study and the different
aspects and approaches required to understand the brand.
This project helped me understand the market of Fastrack watches, sun glasses and other
accessories that is, its awareness, feasibility in terms of features, price and quality and the
various market factors affecting Fastrack products.
It enriched my practical knowledge about the field work experience in marketing
specialization. The study showed the need for improvement of advertisement for the storesand to understand the awareness level.
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6.2 Objective:
The main objective of undergoing this project work is to understand the target and their
preferences, and examine the reasons for few walk ins in the Jayanagar Fastrack exclusive
store.
6.3 Experience:
➢ Got to understand practical functions and implementation of various marketing strategies
by the company.
➢ Was able to analyze the various strategies adopted to market Fastrack products.
➢ Could understand the application of theoretical concepts into business decisions in the
organization.
➢ Gained knowledge about all round view of the marketing and sales operation.
➢ Understood the behavior and culture of an organization.
6.4 Observation:
➢ Got to interact with customers and observe their reaction and get feedback on the
watches.
➢ The pros and cons of various marketing strategies.
➢ The perception of various watch buyers towards Fastrack exclusive stores.
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PART-B
CHAPTER 1
INTRODUCTION TO FASTRACK
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1.1 BACKGROUND OF FASTRACK
Timex had entered the Indian market through a joint venture with Titan and which
was their offering for the youth market. When that JV broke off in 1997 and Timex went
independent, there was a gap in Titan’s portfolio and it only made sense to fill that need
through their offering. Fastrack was launched as a range of watch ware under Titan and was
called Titan Fastrack. Subsequently, it grew from a range to a sub-brand, where Titan was
upfront in the logo and the association was strong. They used the jazzy version of the Mozart
tune, which is Titan’s signature tune. So, the link with Titan was very strong. When they
launched, they targeted predominantly the early jobber 23-30 year-old male executive. It was
only a year or two later that they launched a line for women.
1.2 RE-LAUNCH OF THE BRAND
They took off and did well in the start but started stagnating in 2001-2003, and that’s
when they went for a reality check. Titan had simultaneously launched the steel collection,
which was an attempt to contemporize for a Titan audience. But what was happening was the
collection in terms of looks, price point and consumer buying behaviour was very similar to
Fastrack, including advertising. The parent brand needed to continue in its endeavour to keep
it contemporary and hence repositioned Fastrack to younger audience in sub-25 range.
Awareness of Fastrack was very low and was linked to Titan. There was no
independent identity. Research had also shown that the fact that it had the backing of Titan
was a positive assurance. However, kids didn’t like to be serious and sober like their parents.
Fastrack needed to break away and hence changed the logo to bring in a youthful,
spontaneous, energetic and fun identity and also removed Titan from the upfront association
in the logo. They however, kept it at the bottom, saying it’s a Titan product. This helped carrythe assurance of the trusted Titan brand. They also stopped using the Mozart tune in
advertising.
Fastrack was launched with new products, a new identity, new advertising and a new
logo in June 2005. The year took off so well that they ran out of stock very quickly and ended
the year with a 150 per cent growth and the demand was growing continuously. Next year,
they recorded another 100 per cent growth.
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When re-launch was started, Fastrack brand was worth about Rs 29 crore but
however they have grown almost ten times of that over the last three years. Fastrack has a
presence in over 6000 outlets across 800 towns, with new exclusive brand kiosks in MetroMalls and its multi-channel distribution network which covers the 228 strong World of Titan
Network, 122 Large Format Chain stores viz. Shoppers Stop, Lifestyle, Central, Westside,
Pantaloons and Multi-brand watch & optical outlets. Fastrack is actually among the few
brands where people come asking for the brand. They have adopted a fashion based strategy,
where they launch about 3-4 collections in a year in both categories. Collection-based
strategy has helped them very well.
It has been twin approach of constantly innovating on product design, yet being
affordable, and to reach out to consumers in a language that connects to them that led to their
success. It’s not your typical fashion brand talking down saying you must look cool and you
must look like me. With their advertising, they were able to relate to the youth in a setting
they were familiar with.
Fastrack, in its journey to being a fashion accessories brand has expanded it’s
portfolio to now include not just watches and sunglasses but bags, belts, wallets and
wristbands too. With this, it now has enough categories to open a fashion accessories store –
and that’s just what they’ve done!
1.3 STP ANALYSIS
1.3.1 Segmenting:
Wrist watch can be majorly segmented on the basis demographic factors and price. On the
basis price the market can be segmented into low priced, medium priced and high priced. The
low priced watches are priced less than Rs.1000, medium priced watches are priced from
Rs1000 to Rs.3000 and highly priced are priced above Rs.3000. Fastrack has unveiled
products in all the segments. The range of Fastrack watches is from Rs. 500 to Rs.4000.
On demographic grounds, the market could be segmented on the basis of age. The watches
could be targeted at kids, youth and middle aged people. Fastrack watches were launched to
cater to the needs of youth at first however it introduced watches for kids also later on.
1.3.2 Targeting:
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Fastrack has products caters to the products in all the segments. The range of Fastrack
watches is from Rs. 500 to Rs.4000. Hence it is catering to all the three segments of low,
medium and highly priced segments. However more emphasis is laid on medium and high priced segments.
Collection Price range
Sport 2000-4000
Army 2000-3500
Adventure 1000-2000
Basics 500-1500
Grunge 1000-2500
Aluminium 500-1000
Colour Play 1000-2000
Digital Fashion 500-2000
Essentials 1000-2500
Party 1500-3000
Pairs 3000-3500
Neon - Disc 1000-2500
Neon 500-1500
XY 1500-3000
On demographic grounds, Fastrack watches were launched to cater to the needs of youth atfirst however it introduced watches for kids also later on. Hence it is targeting both youth and
kids segments.
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Collection Target
Sport Men only
Army Both men and women
Adventure Both men and women
Basics Both men and women
Grunge both men and women
Aluminium Women only
Colour Play Women only
Digital Fashion Both men and women
Essentials Both men and women
Party Both
Pairs Pair
Neon - Disc Men only
Neon Men only
XY Both
1.3.3 Positioning:
Fastrack positions itself as both trendy and affordable range. These two attributes were
usually considered as two poles wide apart. Fastrack has taken the challenge of combining
both the features to offer a greater value proportion to its customers.
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1.4 MARKETING MIX OF FASTRACK
1.4.1 Product and Price:
There are a variety of collections of Fastrack watches specifically targeted to men and
women. Each product is includes a different set of features to meet the need of specific
customers.
COLLECTION PRICE RANGE TARGET
Sport 2000-4000 Men onlyArmy 2000-3500 Both men and women
Adventure 1000-2000 Both men and women
Basics 500-1500 Both men and women
Grunge 1000-2500 Both men and women
Aluminium 500-1000 girls only
Colour Play 1000-2000 girls only
Digital Fashion 500-2000 Both men and women
Essentials 1000-2500 Both men and women
Party 1500-3000 Both men and women
Pairs 3000-3500 Pair
Neon - Disc 1000-2500 Men only
Neon 500-1500 Men only
XY 1500-3000 Both men and women
1.4.2 Promotion:
• Advertising: advertising is in the form of television commercials. The company uses
youth icons to portray the trendy and funky look of the brand and to associate with it.
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• Public displays also play an important role in promotion. The colourful and lively bill
boards play an important role in promotion.
1.4.3 Place:
• Channels: The product is sold at almost all the leading watch stores and
shopping malls. The company has also established branded stores and it is also
available in Titan stores.
• Coverage: the products are available all over India.
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CHAPTER 2
INTRODUCTION TO THE STUDY
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2.1 TITLE OF THE STUDY
The research topics selected for the purpose of desertion is entitled as:
“A study of In Store Customer Experience at Fastrack Store”
2.2 OBJECTIVE OF THE STUDY
To understand how the youth react to the brand and what their preferences are.
To understand the buying motives of youth.
To understand the awareness level of the Jayanagar store.
Understand the reason for very few walk ins.
2.3 SCOPE OF THE STUDY
The study showed the need for improvement in the awareness of the store. And
most of the customers are looking for some extra benefits. First time buyers are looking for
discounts and offers.
The following areas of research have been covered in this study
To help the management to understand the customers preferences. Gain information on the consumers desires and wants.
Understanding the in store customer experience.
To determine awareness level with respect to the Jayanagar store
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2.4 METHODLOGY
2.4.1 SAMPLING PLAN
2.4.1.1 Sample size:
The sample size chosen for this study is 50 respondents in store, to know the customer
experience and 50 young respondents between the age group of 20 to 30 to know the
awareness level of Fastrack brand and Jayanagar Fastrack exclusive store. The respondents
filled the questionnaire by themselves and were assisted and explained for their
understanding.
2.4.1.2 Sources of Data Collection:
Primary data collection:
Primary data was collected through survey method choosing the respondents at
convenience. A questionnaire was used to collect data, as the population covered was
large in number. It consisted of multiple choice questions.
2.4.2 PLANS OF ANALYSIS
Systematic objective quantitative analysis of the contents through the questionnaire was
done. Detailed tables were developed showing the data collected from the respondents. From
the tables the percentages were calculated on the basis of which the data was analysed.
The various research measuring tools used are:
a) Questionnaire
b) Personal Interview
c) Tables
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d) Percentages
e) Pie-charts
f) Bar-chart2.5 LIMITATION OF THE STUDY
• The study was confined only to Bangalore (Jayanagar) and the data collected may or
may not be relevant to other cities.
• The study was carried out over a period of six weeks and any information beyond this
date is not applicable or covered.
• Time constraint was also a limitation.
• There might have been tendencies among the respondents to filter their responses
under the given conditions.
• The customer’s opinion might have been biased and may not represent whole
population.
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CHAPTER 3
ANALYSIS AND EVALUATION OF THE
DATA
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3.1 INTRODUCTION TO THE STUDY:
In the questionnaire part one the research is carried out to understand the
awareness of the Fastrack brand and the Jayanagar Fastrack exclusive store .The
questionnaires handed over to respondents is presented, which is followed by graphical
representation of the questionnaires and then the Interpretation and Findings.
In the questionnaire part two of the research the in store customer experience is
examined at Jayanagar Fastrack store, the questionnaires handed over to respondents is
presented, which is followed by graphical representation of the questionnaires and then the
Interpretation and Findings.
Interpretations given are the results interpreted from the graphs and Findings are
the result of interview with the respondents while handing over questionnaires.
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Questionnaire Part One:
1. What is your preferred shopping destination?
Table 1:
Responses Percentage
Shopping Malls 29 58%
Exclusive outlet 9 18%
Retail outlet 10 20%
Local market 2 4%
online 0 0%
50
Graph 1:
Interpretation:
Out of the 50 respondents, 29(58%) respondents preferred visiting shopping malls for
shopping. 9(18%) respondents preferred visiting Exclusive outlets for shopping. 10(20%)
respondents preferred visiting Retail outlets for shopping. 2(4%) respondents preferred
visiting local market for shopping. No one preferred shopping online.
Findings:
Majority of the respondents preferred shopping malls for shopping, as shopping malls
provided them various brands and products at a single destination. Some of the respondents prefer shopping in exclusive outlet, retail outlet and local market.
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2. How often do you purchase watches?
Table 2:
Responses Percentage
Once a year 19 38%
Once in 3 years 12 24%
More than 3 years 7 14%
On impulse 6 12%
During sales and
discounts only
5 10%
Any other 1 2%
50
Graph 2:
Interpretation:
Out of the 50 respondents, 21(42%) respondents purchase watches once a year. 12(24%)
respondents purchase watches once in 3 years. 7(14%) respondents purchase watches more
than 3 years. 6 (12%) respondents purchase watches on impulse. 5(10%) respondents
purchase watches during sales and discounts only. 1(2%) respondents purchase watches insome occasions.
Findings:
Majority of the respondent prefer to buy a watch once in a year and the next most respondent
responded to buy watch once in a 3 year and few responded they buy watch in more 3 year or
on impulse or only during sales and discounts.
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3. Which is your preferred brand?
Table 3:
Responses Percentage
Fastrack 31 62%
Timex 9 18%
Esprit 5 10%
Swatch 3 6%
Other 2 4%
50
Graph 3:
Interpretation:
Out of 50 respondents, 32(64%) respondents preferred brand was Fastrack. 9(18%)
respondents preferred brand was Timex. 5(10%) respondents preferred brand was Esprit.
3(6%) respondents preferred brand was Swatch. 2(4%) respondents preferred brand was Titan
and Casio.
Findings:
Majority of the respondents preferred brand was Fastrack. Next to Fastrack respondents
preferred Timex and very few respondent preferred Esprit, Swatch and others.
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4. What is the first word that comes to mind when you think about FASTRACK?
Table 4:
Responses Percentage
Value for money 10 20%
Quality 9 18%Style 18 36%
Brand 10 20%
Durability 2 4%
Praise from friends 1 2%
Other 0 0%
50
Graph 4:
Interpretation:
Out of 50 respondents, 10(20%) respondents perceive Fastrack provides value for money.
9(18%) respondent perceive Fastrack provides Quality product. 18(36%) respondents
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perceive Fastrack provides style. 10(20%) respondents perceive Fastrack provides brand.
2(4%) respondents perceive Fastrack provides durability. 1(2%) respondents perceive
Fastrack provides praise from their friends.
Findings:
Majority of the respondent perceives Fastrack as stylish products. Some of the respondents
perceive Fastrack provides value for money, quality product and a Brand Image. Very few
think it provides durable products.
5. Which Fastrack ads do you recall?
Table 5:
Responses Percentage
Genelia Airport 13 26%
Genelia and virat hickey 9 18%
Genelia and virat ATM 5 10%
Hip hop 10 20%
Can’t say 12 24%
Other 1 2%
50
Graph 5:
Interpretation:
Out of 50 respondents, 13(26%) respondents can recall the ad of Genelia Airport. 9(18%)
respondents can recall the ad of Genelia and Virat hickey. 5(10%) respondents can recall the
ad of Genelia and Virat ATM. 10(20%) respondents can recall the ad of Hip Hop. 12(24%)
respondents were not able to recall any ad of Fastrack. 1(2%) respondent can recall the ad of
John Abraham eye gear.
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Findings:
Majority of the respondents were able to recall the ad of Genelia Airport. Quarter percentage
of respondents was unable to recall any ad of Fastrack and some of the respondents were able
to recall the ad of Genelia and Virat hickey, Genelia and Virat ATM and Hip Hop.
6. Did you like the ad?
Table 6:
Responses Percentage
Yes 34 89%
No 4 11%
38
Graph 6:
Interpretation:
Out of 38 respondents who were able to recall the Fastrack ad, 34(89%) respondents liked the
ads by Fastrack. 4(11%) respondent did not like the ads by Fastrack.
Findings:
Majority of the respondents who recalled the ads by Fastrack liked the ad and very few
respondents did not like the ads.
7.
a. If yes what you did you like in the ad?
Table 7:
Genelia Airport
Genelia and
virat hickey
Genelia and virat
ATM Hip hop
tag line costumes chemistry between
virat and
dance
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Genelia
5 people likes Genelia 4 people likes virat trendy brand display
tag line
product style
showcase move on its creative
good concept
2 people likes
Genelia
2 people say style
statement
colour full watches
and dance
suits youth of today good concept good concept
b. If No what you didn’t like in the ad?
Table 8:
Genelia Airport Genelia and virat hickey Genelia and virat ATM Hip hop
---------------- not attractive was boring no good models
8. Have you visited Fastrack exclusive showroom?
Table 9:
Responses Percentage
Yes 32 64%
No 18 36%
50
Graph 7:
Interpretation:
Out of 50 respondents, 32(64%) respondents have visited Fastrack exclusive showroom.
18(36%) respondents have never visited Fastrack exclusive showroom.
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Findings:
Majority of the respondents have visited the Fastrack exclusive showroom. And some of the
respondents have never visited the Fastrack exclusive showroom.
9. Do you know Fastrack have its exclusive showroom?
Table 10:
Responses Percentage
Yes 41 82%
No 9 18%
50
Graph 8:
Interpretation:
Out of 50 respondents, 41(82%) respondents know that Fastrack has its exclusive showroom.
9(18%) respondents do not know that Fastrack has its exclusive showroom.
Findings:
Majority of the respondent are aware about the existence of Fastrack exclusive showroom.
Very few are not aware of Fastrack exclusive showroom. And 22% of the respondents know
that Fastrack has exclusive showroom but they have never visited the showroom due busy
schedule, location, discount, offers etc.
10. Do you know Fastrack have its exclusive showroom in Jayanagar?
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Table 11
Responses Percentage
Yes 29 58%
No 21 42%
50
Graph 9:
Interpretation:
Out of 50 respondents, 29(58%) respondents know that Fastrack has its exclusive showroom
in Jayanagar. 21(42%) respondents do not know that Fastrack has its exclusive showroom in
Jayanagar.
Findings:
Majority of respondents are aware of Fastrack exclusive showroom in Jayanagar. 42% of
respondents are not aware of Fastrack exclusive showroom in Jayanagar. 29% of the
respondent who are aware of Fastrack exclusive showroom but they are not aware of Fastrack
exclusive showroom in Jayanagar.
11. Now there is a new store in Jayanagar, would you like to visit?
Table 12:
Responses Percentage
Yes 14 67%
No 1 5%
Can’t say 6 29%
21
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Graph 10:
Interpretation:
Out of 21 respondents who have never visited Fastrack exclusive store in Jayanagar, 14(67%)
respondents would like to visit Jayanagar store. 6(28%) respondents they might or might not
visit Jayanagar store. 1(5%) respondent will not visit the Jayanagar store.
Findings:
Majority of the respondents who are not aware of Fastrack exclusive store in Jayanagar arewilling to visit the store and some of the respondents are not sure of visiting the store.
12. What makes you to visit the store?
Table 13:
Suggestions No. of Responses
nearby / short distance 1
Ambience 2
quality product 2
more variety 3
discount and offers 12
more outlets 1
value for money 1
gift for friends 2
when need arise 1
low prices 1
new collection 8
attractive products 1
brand Image 2
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more stylist products 1
watches 1
Graph 11:
Findings:
Majority of the respondents feel discounts and offers are the factors which makes them to
visit Fastrack stores. Some of the respondents feel new collection makes them visit the store.
13. Why you have not visited the store?
Table 14:
Reasons No. of Responses
busy Schedule 5
Can't say 1
not conveniently located 2
No offers 2
Not aware 4
Recently came to know 1
Prefer other brand 1
not got any occasion to buy 1
waiting for new arrival to
come
1
Graph 12:
Findings:
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Majority of the respondents responded, due to their busy schedule and being not aware about
the store is the reason why they have not visited the store. And some of the respondents
responded that the store has no offers and is not conveniently located.
14. Do discounts/free gifts and so on, affect your purchase decision?
Table 15:
Responses Percentage
Yes 39 78%
No 11 22%
50
Graph 13:
Interpretation:
Out of 50 respondents, 39(78%) respondents said that their purchase decision is affected by
the discounts, free gifts etc. 11(22%) respondents said that their purchase decision is not
affected by the discounts, free gifts etc.
Findings:
Majority of the respondents agreed that their purchase decision is affected by the discounts,
free gifts etc. and very few respondents said their purchase decision is not influenced by
discounts, free gifts etc.
Questionnaire part two:
1. Please rate the Fastrack store on the following attributes, on a scale of 1 to 7
(7=very good, 1= very poor)
Stock Availability:
Table 16:
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Responses Percentage
Very Poor 0 0%
Poor 4 8%
Below Average 4 8%
Average 9 18%
Above Average 18 36%
Good 7 14%
Very Good 8 16%
50
Graph 14:
Interpretation:
out of 50 responses, 4(8%) respondents rated it as poor. 4(8%) respondents rated it as below
average. 9(18%) respondents rated it as average. 18(36%) respondents rated it as above
average. 7(14%) respondents rated it as good. And 8(16%) respondents rated it as very good.
Findings:
Majority of the respondents rated the stock availability as above average. Some of the
respondents rated as average, good and very good.
Ambience:
Table 17:
Responses Percentage
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Very Poor 0 0%
Poor 2 4%
Below Average 0 0%
Average 5 10%
Above Average 12 24%
Good 17 34%
Very Good 14 28%
50
Graph 15:
Interpretation:
Out of 50 responses, 2(4%) respondents rated it as poor. 5(10%) respondents rated it asaverage. 12(24%) respondents rated it as above average. 17(34%) respondents rated it as
good. And 14(28%) respondents rated it as very good.
Findings:
Majority of the respondents rated ambience as good and some of the respondents felt store
has very good ambience.
Staff behaviour:
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Table 18:
Responses Percentage
Very Poor 1 2%
Poor 2 4%
Below Average 0 0%
Average 5 10%
Above Average 16 32%
Good 14 28%
Very Good 12 24%
50
Graph 16:
Interpretation:
out of 50 respondents, 1(2%) rated it as very poor. 2(4%) respondents rated it as poor.
5(10%) respondents rated it as average. 16(32%) respondents rated it as above average.
14(28%) respondents rated it as good. 12(24%) respondents rated it as very good.
Findings:
Majority of the respondents rated staff behaviour as above average and some respondents
rated it as good and very good.
Product Quality:
Table 19:
Responses Percentage
Very Poor 0 0%
Poor 2 4%
Below Average 3 6%
Average 5 10%
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Above Average 9 18%
Good 20 40%
Very Good 11 22%
50
Graph 17:
Interpretation:
Out of 50 respondents, 2(4%) respondents rated it as poor. 3(6%) respondents rated it as
below average. 5(10%) respondents rated it as average. 9(18%) respondents rated it as above
average. 20(40%) respondents rated it as good. 11(22%) respondents rated it as very good.
Findings:
Majority of the respondents rated product quality as good and some of the respondent rated it
as very good and average.
Offers:
Table 20:
Responses Percentage
Very Poor 4 8%
Poor 5 10%
Below Average 8 16%
Average 10 20%
Above Average 12 24%
Good 5 10%
Very Good 6 12%
50
Graph 18:
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Interpretation:
Out of 50 respondents, 4(8%) respondents rated it as very poor. 5(10%) respondents rated it
as poor. 8(16%) respondents rated it as below average. 10(20%) respondents rated it as
average. 12(24%) respondents rated it as above average. 5(10%) respondents rated it as good.
6(12%) respondents rated it as very good.
Findings:
Majority of the respondents rated offers provided by the Fastrack as above average and some
of the respondents rated it as average and good.
Price:
Table 21:
Responses Percentage
Very Poor 0 0%
Poor 4 8%Below Average 8 16%
Average 14 28%
Above Average 9 18%
Good 8 16%
Very Good 7 14%
50
Graph 19:
Interpretation:
Out of 50 respondents, 4(8%) respondents rated it as poor. 8(16%) respondents rated it as
below average. 14(28%) respondents rated it as average. 9(18%) respondents rated it as
above average. 8(16%) respondents rated it as good. 7(14%) respondents rated it as very
good.
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Findings:
Majority of the respondents rated the pricing of Fastrack as average and most of the
respondents rated it as a fair pricing.
2. Store is conveniently located
Table 22:
Responses Percentage
Very strongly agree 10 20%
Strongly agree 21 42%
Agree 13 26%
Disagree 2 4%
Strongly disagree 4 8%
Very strongly disagree 0 0%
50
Graph 20:
Interpretation:
Out of 50 responses, 10(20%) of the respondents very strongly agree that store is
conveniently located. 21(42%) of the respondents strongly agree that store is conveniently
located. 13(26%) of the respondents agree that store is conveniently located. 2(4%) of therespondents disagree that store is conveniently located. 4(8%) of the respondents strongly
disagree that store is conveniently located.
Findings:
Majority of the respondents were not only from Jayanagar but visited from the surrounding
regions of Jayanagar and they strongly agree that store is conveniently located from their
residence.
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Table 23:
Responses Percentage
Very unsatisfied 6 12%
Satisfied 34 68%
Somewhat satisfied 4 8%
Very satisfied 5 10%
Extremely satisfied 1 2%
50
Graph 21:
Interpretation:
Out of 50 responses, 6(12%) respondents are very unsatisfied with the after purchase service.
34(68%) respondents are satisfied with the after purchase service. 4(8%) respondents are
somewhat satisfied with the after purchase service. 5(10%) respondents are very satisfied
with the after purchase service. 1(2%) respondent is extremely satisfied with the after
purchase service.
Findings:
Majority of the respondents are satisfied with the after purchase services like warranty,
repair, customer service etc. Very few of respondents are very satisfied and very unsatisfied.
4. Overall, how satisfied are you with STORE
Table 24:
Responses Percentage
Very unsatisfied 5 10%
Satisfied 23 46%
Somewhat satisfied 8 16%
Very satisfied 11 22%
Extremely satisfied 3 6%
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50
Graph 22:
Interpretation:
Out of 50 respondents, 5(10%) respondents are very unsatisfied with store. 23(46%)
respondents are satisfied with store. 8(16%) respondents are very somewhat satisfied with
store. 11(22%) respondents are very satisfied with store. 3(6%) respondents are very
unsatisfied with store.
Findings:
Majority of the respondents are satisfied with the store. Some of the respondents are very
much satisfied with the store. And very few respondents are not satisfied with the store.
5. How likely are you to visit STORE again?
Table 25:
Responses Percentage
Definitely 23 46%
Probably 21 42%
Might or might not 4 8%
Probably not 1 2%
Definitely not 1 2%
50
Graph 23:
Interpretation:
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Out of 50 responses, 23(46%) of the respondents are definitely willing to visit the store again.
21(42%) of the respondents are probably visiting the store. 4(8%) of the respondents might or
might not visit the store again. 1(2%) of the respondent probably will not visit the store again.1(2%) of the respondent will definitely not visit the store again.
Findings:
Majority of the respondents would like to visit the store again. Very few respondents are not
sure or not willing to visit the store again.
6. Would you recommend this STORE to others?
Table 26:
Responses Percentage
Definitely 37 74%
Probably 10 20%
Might or might not 2 4%
Probably not 1 2%
Definitely not 0 0%
50
Graph 24:
Interpretation:
Out of 50 responses, 37(74%) of the respondents are definitely willing to recommend the
store to others. 10(20%) of the respondents are probably recommend the store to others.
2(4%) of the respondents might or might not recommend the store to others. 1(2%) of the
respondent probably will not recommend the store to others. 0(0%) of the respondent will
definitely not recommend the store.
Findings:
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Majority of the respondents will recommend the store to others as many of the customers are
satisfied with store an all attributes. Very few respondents are not sure or not willing to
recommend the store to others.
CHAPTER 5
RECOMMEMDATIONS &
CONCLUSION
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5.1 CONCLUSION AND RECOMMENDATION
Based on the above study we would like to recommend Fastrack to target the market
with new variants of watches on regular basis. Fastrack has to increase its exclusive stores
from its current 6 stores. As most of the people like to visit store in their region due to time
constrains. In addition to these Fastrack should open its exclusive stores in shopping malls as
58% of the respondents prefer shopping mall as shopping destination. Fastrack should use
television, print media and start some brand magazine for their advertisements and to keep
their existing customers update of any new variants of watches as around 66% of people
would like to change their watches in less than 3years. Most important point is around 74%
of people would like to recommend others to visit Fastrack exclusive store in Jayanagar and
around 64% of people prefer Fastrack has their preferred brand. The above type of
advertisements can help Fastrack to improve the loyalty customer base. As the positioning of
Fastrack targeted trendy, affordable ranges in youth segment and it is been accepted by most
of the people but they would like to have more and more variants and features in this segment
Following recommendations are the key features to be added and improvements for Fastrack
New trends year on year
More exclusive stores
Promotions in televisions and print media
Providing special offers for the loyal customers
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Associations with various youth activities (fests, events, etc...)
Providing special offers during Festivals.
Theme based marketing at different occasions.
BIBLIOGRAPHY
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BIBLIOGRAPHY
BOOKS REFERRED:
1. Marketing Management........................................... Philip Kotler
2. Research Methodology............................................. C.R. Kothari
3. Marketing research – techniques and cases…………Dr. R. Nargundkar
Websites:
1. http://www.titan.co.in
2. http://www.titanworld.com
3. http://www.fastrack.in
4. http://www.moneycontrol.com
5. http://www.sulekha.com
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ANNEXURES
QUESTIONNAIRES:
PART ONE:
Dear Sir / Madam,
I am a student of PESIT pursuing MBA. I am doing a brief survey to find out more about
consumer preference regarding Fastrack. We would be grateful if you could spare few
minutes to participate in it. Thank you for your cooperation.
NAME:
ADDRESS:
OCCUPATION:
1. AGE:
2. SEX:
Male
Female
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3. INCOME GROUP:
Less than Rs. 2 lakh
Rs.2 lakh to Rs. 3 lakh
Rs. 3 lakh to Rs. 5 lakh
More than Rs.5 lakh
4. What is your preferred shopping destination?
Shopping Malls
Exclusive outlet
Retail outletLocal market
online
5. How often do you purchase watches?
Once a year
Once in 3 yearsMore than 3 years
On impulse
During sales and discounts only
Any other
6. Which is your preferred brand?
Fastrack
Timex
Esprit
Swatch
Other (Please specify)………………………
7. What is the first word that comes to mind when you think about FASTRACK?
Value for money
Quality
Style
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Brand
Durability
Praise from friendsOther (please specify)……………………..
8. Which Fastrack ads do you recall?
Genelia Airport
Genelia and virat hickey
Genelia and virat ATM
Hip hop
Can’t say
Other (Please specify)…………………………
9. Did you like the ad?
Yes
No
10. If Yes what did you like in the ad?
If No what you didn’t like in the ad?
______________________________________________________
11. Have you visited Fastrack exclusive showroom?
Yes
No
12. Do you know Fastrack have its exclusive showroom?
Yes
No
13. Do you know Fastrack have its exclusive showroom in Jayanagar?
Yes
No
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14. Now there is a new store in Jayanagar, would you like to visit?
Yes
No
Can’t say
15. What makes you to visit the store?
________________________________________________________
16. Why you have not visited the store?
_______________________________________________________
17. Do discounts/free gifts and so on, affect your purchase decision?
Yes
No
Thank you for your time and valuable input.
PART TWO:
Dear Sir / Madam,
I am a student of PESIT pursuing MBA. I am doing a brief survey to find consumer
satisfaction regarding Fastrack. We would be grateful if you could spare few minutes to
participate in it. Thank you for your cooperation.
NAME:
ADDRESS:
OCCUPATION:
1. AGE:
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2. SEX:
Male
Female
3. INCOME GROUP:
Less than Rs. 2 lakh
Rs.2 lakh to Rs. 3 lakh
Rs. 3 lakh to Rs. 5 lakh
More than Rs.5 lakh
4. Please rate the Fastrack store on the following attributes, on a scale of 1 to 7
(7=very good, 1= very poor)
1 2 3 4 5 6 7
Stock Availability |-------------|--------------|-------------|-------------|--------------|-------------|
Ambience |-------------|--------------|-------------|-------------|--------------|-------------|
Staff behaviour |-------------|--------------|-------------|-------------|--------------|-------------|
Product Quality |-------------|--------------|-------------|-------------|--------------|-------------|
Offers |-------------|--------------|-------------|-------------|--------------|-------------|
Price |-------------|--------------|-------------|-------------|--------------|-------------|
5. Store is conveniently located
Very strongly agree
Strongly agree
Agree
Disagree
Strongly disagree
Very strongly disagree
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6. After purchase service (warranty, repair, customer service etc)
Very unsatisfied
Satisfied
Somewhat satisfied
Very satisfied
Extremely satisfied
7. Overall, how satisfied are you with STORE
Very unsatisfied
Satisfied
Somewhat satisfied
Very satisfied
Extremely satisfied
8. How likely are you to visit STORE again?
Definitely
Probably
Might or might not
Probably not
Definitely not
9. Would you recommend this STORE to others?
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Definitely
Probably
Might or might notProbably not
Definitely not
Thank you for your time and valuable input.
BALANCE SHEET Rs. In Crores
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Sources Of Funds
Total Share Capital 82.28 44.39 44.39 44.39 44.39
Equity Share Capital 42.28 44.39 44.39 44.39 44.39
Share Application Money 0 0 0 0 0
Preference Share Capital 40 0 0 0 0
Reserves 150.3 283.06 391.78 506.85 679.99
Revaluation Reserves 0 0 0 0 0
Networth 232.58 327.45 436.17 551.24 724.38Secured Loans 148.84 172.67 188.11 116.76 72.79
Unsecured Loans 119.09 74.34 69.78 58.65 0
Total Debt 267.93 247.01 257.89 175.41 72.79
Total Liabilities 500.51 574.46 694.06 726.65 797.17
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Application Of FundsGross Block 420.42 515.48 558.07 593.04 624.33
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Less: Accum. Depreciation 243.97 264.34 285.61 318.56 361.7
Net Block 176.45 251.14 272.46 274.48 262.63
Capital Work in Progress 19.56 15.97 9.99 19.52 12.29
Investments 27.02 27.02 47.39 7.66 7.63
Inventories 374.39 677.48 1,021.09 1,202.69 1,340.33
Sundry Debtors 90.12 92.06 96.45 106.22 93.61
Cash and Bank Balance 38.29 50.73 51.91 54.69 61.72
Total Current Assets 502.8 820.27 1,169.45 1,363.60 1,495.66
Loans and Advances 150.96 179.06 111.34 128.82 200.99
Fixed Deposits 0 0 0 0 125Total CA, Loans &Advances 653.76 999.33 1,280.79 1,492.42 1,821.65
Deffered Credit 0 0 0 0 0
Current Liabilities 363.89 571.26 842.68 974 1,172.28
Provisions 26.72 151.96 73.9 93.44 134.74
Total CL & Provisions 390.61 723.22 916.58 1,067.44 1,307.02
Net Current Assets 263.15 276.11 364.21 424.98 514.63
Miscellaneous Expenses 14.31 4.21 0 0 0
Total Assets 500.49 574.45 694.05 726.64 797.18
Contingent Liabilities 64.22 76.01 58.41 65.46 72.19
Book Value (Rs) 45.55 73.77 98.26 124.18 163.19
PROFIT AND LOSS ACCOUNT: Rs. In Crores
12 mths 12 mths 12 mths 12 mths 12 mths
Sales Turnover 1,509.92 2,181.69 3,098.20 3,926.09 4,703.12
Excise Duty 41.19 46.22 47.35 44.34 28.7
Net Sales 1,468.73 2,135.47 3,050.85 3,881.75 4,674.42
Other Income -9.74 4.71 -4.39 -5.91 8.62
Stock Adjustments 72.58 246.22 297.89 178.67 111.66
Total Income 1,531.57 2,386.40 3,344.35 4,054.51 4,794.70
Expenditure
Raw Materials 981.62 1,620.65 2,431.79 2,940.86 3,561.05
Power & Fuel Cost 10.02 11.55 13.9 16.11 17.47
Employee Cost 109.41 157.4 189.66 234.2 275.64
Other ManufacturingExpenses 3.46 5.6 5.96 8.99 6.11
Selling and Admin Expenses 248.68 331.79 358.05 427.47 458.69
Miscellaneous Expenses 41.01 69.63 84.12 86.2 30.86
Preoperative ExpCapitalised -0.89 -0.52 -0.02 -0.09 -0.04
Total Expenses 1,393.31 2,196.10 3,083.46 3,713.74 4,349.78
Mar '06 Mar '07 Mar '08 Mar '09 Mar '10
12 mths 12 mths 12 mths 12 mths 12 mths
Operating Profit 148 185.59 265.28 346.68 436.3
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PBDIT 138.26 190.3 260.89 340.77 444.92
Interest 31.71 33.07 39.44 68.46 63.52
PBDT 106.55 157.23 221.45 272.31 381.4
Depreciation 19.66 25.59 29.73 41.76 60.08
Other Written Off 0 0 0 0 0
Profit Before Tax 86.89 131.64 191.72 230.55 321.32
Extra-ordinary items -0.93 -0.2 2.57 -10.92 -2.92
PBT (Post Extra-ord Items) 85.96 131.44 194.29 219.63 318.4
Tax 12.34 37.32 44.02 60.68 68.08
Reported Net Profit 73.62 94.33 150.27 158.96 250.32
Total Value Addition 411.69 575.44 651.68 772.88 788.73
Preference Dividend 2.72 0.39 0 0 0
Equity Dividend 13.32 22.19 35.51 44.39 66.58
Corporate Dividend Tax 2.25 3.83 6.04 7.54 11.06
Per share data(annualised)
Shares in issue (lakhs) 422.76 443.89 443.89 443.89 443.89
Earning Per Share (Rs) 16.77 21.16 33.85 35.81 56.39
Equity Dividend (%) 30 50 80 100 150
Book Value (Rs) 45.55 73.77 98.26 124.18 163.19
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